AS-22: ACCOUNTING FOR TAXES ON INCOME Meaning and Glance to Its Recognition, Presentation & Disclosures. MEANING: Taxable income is calculated in accordance with tax laws. In some circumstances, the requirements of thes
A CLEAR LOOK AT EBITDA:Normally, investors focus on cash flow, net income and revenue as the basic measures of corporate health and value. But in recent years, another measure has crept into quarterly reports and accounts: earnings before interest, t
There will be no let-up in the use of fair market values for banks’ holdings, even in illiquid markets, according to international accounting rulemakers.The stance came in a draft paper published on Tuesday by an expert panel convened by the In
FAST ANALYSIS OF BLALNCE SHEET The Profit & Loss Statement describes you how your business is performing at that particular time and the Balance Sheet is the statement that tells you about the long-term health and strength of your business. The
AS 26 Accounting for Intangibles : A review with respect to Patents and TrademarksMore often brands created are not recognized in the Balance Sheet. Companies invest huge amounts in advertisement and sales promotion which were earlier treated as def
Accounting Assurance Standard (AAS) 1 to 29 Disclosure of accounting policiesAccounting policies refer to specific accounting principles and the method of applying those principles adopted by the enterprises in preparation of financial statement
SOME KEY DIFFERENCES BETWEEN IFRSs AND US GAAP General approach IFRS: More 'principles-based' standards with limited application guidance. US: More 'rule-based' standards with more spe
Revenue Recognition Principle Revenues are recognized when (a) realized or realizable and (b) earned. [SFAC No. 5, Para. 83] Revenues --> not recognized un
ndian business has gone global in a big way in recent years, which is clearly reflected in more companies setting up overseas arms, raising money from the market and acquiring companies. The coming years will only see an increase in the number of com
Have you noticed how incredibly busy everyone is these days? Customers, colleagues, competitors – life is crammed full of activity. The things we want to do today, get postponed until tomorrow and we wonder at the end of each day, just what exa
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